Borgward is usually an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in the particular 1960s. The Borgward group generated four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's grandson, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the corporation's first new car in over 40 years, the BX7 at the 2015 International Motor Present.The origins of Bremen's most significant auto-business get back to 1905 with the place in nearby Varel in the "Hansa Automobilgesellschaft" and the walls in Bremen itself involving "Namag", maker of the Lloyd car. These two businesses merged in 1914 to the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economy then confronting Germany, the business failed to prosper and with the late 1920s faced individual bankruptcy. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand this scope of his car business, and he took control from it.
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The very first "automobile" Carl Borgward created was the 1924 Blitzkarren (turbo cart), a sort of tiny three-wheeled van with only two hp (1. 5 kW), which was an enormous success on the market gap it filled. Traders with a small budget got it for delivery. The Reichspost ordered some of them for postal service.In 1929, Borgward became the representative of Hansa Lloyd AG having gotten to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had nowadays evolved into the however three wheeler timber framed synthetic leather bodied 5 or even 7 hp Goliath Leading. Borgward turned his care about the other businesses and also led the development with the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 and in 1939 the name was shortened to Borgward 2000. The 2000 model was as well as the Borgward 2300that always been in production until 1942.After World War II, in 1946 Carl Borgward used a few of the brand names from businesses he had acquired over time to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase the quantity of steel allocated to his business each time of austerity and rationing. For many purposes the businesses would be run to be a single entity, but in a business operated by the man to whom delegation didn't come naturally the expansion of legal entities on the other hand added unhelpful layers of complexity with the 1950s and encouraged a broadening in the range which finally proved financially unsustainable while using sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.One of the top engineers at Borgward via 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella begun in 1954. The Isabella would become Borgward's most popular model and remained in production for that life of the company. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a distinct 1500 cc sports racers inside late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (that is also used by some F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such as air suspension and computerized transmission, the company had trouble competing available on the market. While larger companies just like Opel and VW took benefit of economies of scale and also kept their prices low to achieve market share, Borgward's cost structure was even above necessary for its dimension, as it basically controlled as four tiny independent companies and never implemented such basic expense reduction strategies as joint development and parts sharing between company's makes. Borgward suffered quality problems likewise. The Lloyd Arabella was technically advanced like a water-cooled boxer with the front wheel drive, but plagued with problems like water leakage and gearbox snags. Lloyd lost money on the car community . was more expensive as compared to its direct competitors.In 1961, the company was pushed into liquidation by creditors. Carl Borgward died in July 1963, still insisting the company ended up technically solvent. This proved to be true inside sense that after the particular creditors were paid entirely, there was still several. 5 million Marks left over from the business.
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Reviews of difficulties at Borgward surfaced in the article that appeared with Germany's leading news mag, “Der Spiegel” on age 14 December 1960”. The very long, detailed, and in places repeated Spiegel article was highlighted by means of a picture of Borgward, cigar in mouth, on the magazine’s top cover. It was strongly crucial of Carl Borgward's enterprise approach, and included many in the arguments later advanced to explain or justify the business's demise. The widest range connected with cars from any company in Germany, produced by three right up until recently operationally autonomous companies (Borgward, Goliath and Lloyd) seemed to be supporting a turnover connected with only 650 million Grades, placing the overall sales value on the combined Borgward auto corporations only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation associated with new and modified models featuring adventurous, but under-developed technological improvements ("fast manisch[e] Konstruierwut") offered rise to components which many times did not work, broke down or droped apart, resulting in massive costs for pre-delivery remediation and/or post delivery warranty work that found their way back to the company.The December 1960 Spiegel article has not been the only serious public criticism targeting Borgward presently: suddenly stridently negative (when more succinct) comments also resulted in in the influential mass-market Bild paper and in television reviews. Critical media commentaries in addition appeared concerning large loans to the Borgward Group provided with the local Landesbank.It is apparent the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses for instance auto manufacturing use their own expensive machines and tools most efficiently should they use them constantly from full capacity, but the car market in Europe inside 1950s/60s was more in season than today, with sales diminishing with Winter, then peaking in the early summer months: Borgward’s inventory of unsold cars by the end of 1960 was higher than usual, reflecting ambitious growth ideas, most obviously in respect of america market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered by the North American dealers with 1960 (and in the 12, 000 delivered to all of them) 6, 000 might have being taken back following a slump in North american demand. (Borgward was not the only real European auto maker hit by a North American slump successful for imported cars throughout 1960. In the same year two ships carrying Renault Dauphines were turned the government financial aid mid-Atlantic because the docks in The big apple were overcrowded with unsold Dauphines.
Towards the end of December 1960 Borgward approached the financial institution for a further just one million Marks of credit ratings, the loan to be backed by way of guarantee from the Bremen local government which initially the Bremen senators decided provide. However, following the flood involving critical press comment the senators withdrew their ensure. They now required Carl Borgward to pledge this company itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported within a still hostile media, Borgward agreed to the actual senate’s terms on four February 1961, thereby averting the bankruptcy from the business.The Bremen Senate in addition insisted on appointing a nominee as chairman on the company’s supervisory board. The man they chose was Johannes Semler whom reports generally describe being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice towards the breadth of Semler’s career. He had studied rules at university and worked initially as being a lawyer. The scion of a respected Hamburg political family, in 1945 he acquired himself been a founding member of the centre-right CSU gathering, and was a person in the Bundestag between 1950 along with 1953. Despite his Hamburg beginnings, Semler was by this time based in Munich, with a network of contacts in the Bavarian establishment that probably included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very top administrative position inside Bizone. The appointment of Johannes Semler because the representative of the Bremen senators to chair the Borgward supervisory panel would, in retrospect, contribute to the debate that followed the Borgward bankruptcy.
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In 28 July 1961 Semler, as Chairman of this supervisory board joined the directors from the three companies Borgward, Goliath and Lloyd to instigate proceedings with the establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling the business enterprise to continue to trade while concurrently protecting the interests associated with creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of his own, never had any intention of allowing the Borgward auto-businesses for you to survive.
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